* Press release…
Governor Pritzker announced today that the state has earned $52 million in revenue during the first six months of Illinois’ new adult-use cannabis industry. Last year, the Governor signed the bipartisan Illinois Cannabis Regulation and Tax Act (CRTA) into law, the most equity-centric recreational cannabis legalization in the nation. Since the program’s launch on January 1, $52 million has been collected in adult-use cannabis tax revenue, with $34.7 million coming from excise taxes.
“Illinois has done more to put justice and equity at the forefront of this industry than any other state in the nation, and we’re ensuring that communities that have been hurt by the war on drugs have the opportunity to participate,” said Governor JB Pritzker. “Since January, over $239 million has been spent on recreational cannabis in Illinois translating to $52 million in tax revenue, and a portion of every dollar spent will be reinvested in communities that have suffered from decades of disinvestment.”
The Pritzker administration collected $34.7 million in cannabis excise taxes in the second half of fiscal year 2020. In addition to the cannabis excise taxes, the Illinois Department of Revenue collected $18 million in sales taxes that will be shared with local governments. In total, the department estimates $25.9 million will be directed to the state’s General Fund from excise and sales taxes.
* Go get that cheesehead money…
Illinois’ largest recreational marijuana dispensary opened Monday about 1,000 feet south of the border with Wisconsin, where marijuana use is prohibited, and 5,000 feet from a proposed casino.
The city’s mayor says the sales tax revenue from the store and the development prospects surrounding it are huge.
“This store is going to lead to further development,” Mayor Ted Rehl said at a news conference. The 7,208-square-foot Sunnyside South Beloit dispensary at 7000 First Ranger Drive is visible from highly traveled Interstate 90.
“At a dozen different levels, this is a gift to South Beloit,” Rehl said.
Hopefully, they’ll stop in at other Illinois stores while they’re in South Beloit and stock up on Doritos.
* Tax revenues in action…
Jacksonville, Ill., city leaders could take the next step tonight toward establishing a citywide fiber optic network. […]
If the council agrees on the deal, video gaming receipts and revenue from a cannabis tax have been discussed as sources of funding.
* More on that topic…
Rockford Mayor Tom McNamara has joined the state’s Restore, Reinvest and Renew program.
Overseen by Lt. Gov. Juliana Stratton, the program determines how to reinvest 25% of tax revenue from legal marijuana sales and redistribute it to communities “hardest hit” by the United States’ 40 year “War on Drugs” campaign.
* Maybe next year we can get some celebs into the state…
Cannabis, illegal just last year in Illinois, will now have its own competition to see what’s best in the state.
The High Times Cannabis Cup is coming to Illinois for the first time. Rather than the traditional celebrity/industry insider judging, it will be judged by the public.
The Cannabis Cup rates brands of marijuana on criteria such as looks, smell, taste and, of course, the high. Cannabis connoisseurs like Snoop Dogg, Tommy Chong, Patti Smith, Wiz Khalifa, Kid Cudi and Method Man have taken hits and passed judgment in past competitions.
Winning has launched brands such as DNA Genetics, which has become one of the leading providers of seeds in the cannabis industry.
* And wealthy NIMBYs strike again…
A group of Gold Coast residents is opposing plans for a marijuana store near their neighborhood, saying the dispensary would be too close to a park and a nearby school, and would add to congestion in the area.
Chicago-based PharmaCann wants to open the marijuana store, called Verilife, at 12-14 W. Maple St., less than a block away from Mariano Park.
“Nobody’s against having a pot dispensary,” said Matthew Newberger, president of the Mariano Park Advisory Board. “It’s just that we think it’s an inappropriate place to put one.”
- Dancing Bears - Tuesday, Jul 14, 20 @ 2:33 pm:
Just signed up to be a judge for the Cannabis Cup. I can’t believe I even just typed that.
As John Prine said, “We are livin’ in the future…”
- pool boy - Tuesday, Jul 14, 20 @ 2:35 pm:
I didn’t know Oswego Willy could smoke that much.
- Oswego Willy - Tuesday, Jul 14, 20 @ 2:39 pm:
=== I didn’t know … could smoke that much.===
To be honest, I’ve been baking a great deal… I’ve mastered brownies and banana bread with chocolate chips.
To the post,
It’s good news to the financial aspects that the state was looking for revenue, but in these uncertain times, any numbers look better than what could’ve been a cratering of all revenue streams.
Gotta run, the oven timer just went off.
:)
- Donnie Elgin - Tuesday, Jul 14, 20 @ 2:42 pm:
SWOT analysis:
WI Strengths - Spotted Cow- low gas tax-
the Brat Stop
WI - Weaknesses - Packers
IL Strengths - legal weed - Da Bears
- Anyone Remember - Tuesday, Jul 14, 20 @ 2:45 pm:
This should disprove the stereotype that marijuana users are unmotivated slackers …
- JJJJJJJJJJ - Tuesday, Jul 14, 20 @ 2:50 pm:
@Dancing Bears
As Prine also said:
“And you may see me today with an illegal smile
It don’t cost very much, but it lasts a long while
Won’t you please tell the man I didn’t kill anyone
No, I’m just tryin’ to have me some fun.”
While the first line is now inaccurate on two counts, I think the second line was used for a few floor speeches.
- GregN - Tuesday, Jul 14, 20 @ 2:59 pm:
Good news re recreational dope income, but here’s a/my problem:
As a medical user I’m limited to only 1 dispensary. More and more, the products I use (mostly CBD/INDICA capsules) are in short supply and be months in between new shipments. I’m guessing the demand from the recreational side is causing this. But even if I found another dispensary with my product, I am restricted from buying there. What is the purpose of having to select and patronize only 1? The state can (and does) track my purchases so I don’t exceed my limits.
Emails to my Rep and Sen with the question go unanswered.
- Rich Miller - Tuesday, Jul 14, 20 @ 3:03 pm:
===As a medical user I’m limited to only 1 dispensary===
That is no longer the law. You can now change dispensaries instantly.
- jabes - Tuesday, Jul 14, 20 @ 3:09 pm:
The Mariano Park argument is particularly silly. That’s the park” in the Viagra Triangle at Rush and State. It’s not a park where kids and families go. It’s a triangle of pavement with a coffee stand, a fountain and a bunch of tables. If they want to fight it, they should focus on the elementary school, but that’s a couple blocks away, at least.
- JJJJJJJJJJ - Tuesday, Jul 14, 20 @ 3:14 pm:
Furthermore I believe the law required dispensaries to set aside a certain percentage of all products for medical users only.
This led to some speculation that the cause of low medical cannabis supplies was in fact…. medical cannabis users stockpiling in anticipation of a run on products on 1/1/20.
- Cool Papa Bell - Tuesday, Jul 14, 20 @ 3:21 pm:
Why didn’t we do this sooner? (I know why)
- JoanP - Tuesday, Jul 14, 20 @ 3:28 pm:
Oh, fer . . . °If people want to smoke, God bless them, let them smoke, but why in this neighborhood?”
Does it occur to these NIMBYs that their *neighbors* are the ones smoking? There are plenty of stoners on the north side.
- Norseman - Tuesday, Jul 14, 20 @ 3:30 pm:
Marketing campaign:
Come to S. Beloit for a Toke and Cheese.
Grab a Brat and a Bong in S. Beloit
S. Beloit Doobie Cheese
- The Dude - Tuesday, Jul 14, 20 @ 5:01 pm:
Not going to lie. Some of that 52 million came from me.
But seriously, I think it’s helped me stay level headed through this whole pandemic. I also enjoy playing my guitar again since I tried it. Hadnt picked it up in years but felt the urge as soon as I smoked.
Its brought me nothing but joy so far. I can’t believe it’s still illegal in other states
- Grandson of Man - Tuesday, Jul 14, 20 @ 5:50 pm:
Also watching to see what Naperville will do, since voters approved legal marijuana sales via a referendum earlier this year. The Opt Out folks lost, and hopefully that will settle it.
- dbk - Tuesday, Jul 14, 20 @ 7:18 pm:
So where do the Gold Coasters go for their supply?
Asking because all things NIMBY are of interest, and this is pretty peak NIMBY.
- High - Tuesday, Jul 14, 20 @ 9:38 pm:
Sad.
- XonXoff - Tuesday, Jul 14, 20 @ 10:05 pm:
First, I’m happy about the basic cannabis decriminalization measures taken in Illinois. It’s better than nothing but a far cry from any Gold Standard of legalization. And it’s no surprise to me the state is celebrating revenue numbers. But with Craft licenses delayed and still no legal homegrow (without buying a medical license), I’m not inclined to join the celebration. It still feels like the monoliths win again, in Illinois.
- Southwest Sider - Wednesday, Jul 15, 20 @ 8:16 am:
Now it is time to make fireworks legal in the state and recapture revenue from our neighboring states. We sure are consuming lots of fireworks.